M/Group’s acquisition of two strategically located and adjoining land sites within Landcorp’s Shoreline precinct will deliver ‘housing diversity’ with an integrated apartment development comprising of various apartment and terrace-style home layouts, according to Managing Director, Lloyd Clark.
The combined 5519sq.m site was purchased for $3.8million from LandCorp. It is located adjacent to a green strip with parkland and future direct beach access, and is one of a limited number of sites within the precinct zoned for apartment development.
Mr Clark said the company is delighted by the opportunity to continue its development success in the Perth’s southern Fremantle corridor. He said the design for the site is in keeping with Landcorp’s bid for diversity within the development precinct and pushes the boundaries of what is often expected in an apartment building.
“This will be an extremely exciting site to work on due to its location, LandCorp’s vision and the high level of amenity planned for the area. We wanted to follow LandCorp’s lead in delivering an environment that supports a range of lifestyles and demographic preferences by creating something distinctive for the emerging coastal market,” he continued.
“While it is our first project within the Shoreline development, it follows a long line of successful apartment projects the company has developed from Fremantle to Port Coogee. It is a market we are extremely familiar with and know that the delivery of boutique product with an element of interest is likely to attract high appeal.”
M/Group’s proposed apartment development will be marketed under the company’s Match apartment brand, and will comprise of a selection of 16 terrace-style homes and 58 apartments including a diverse range of one and two bedroom, single and double storey layouts.
Shoreline is part of Landcorp’s Cockburn Coast Redevelopment Area, which is being developed to create a modern urban community just 4km from Fremantle and 18km from Perth.
LandCorp General Manager Metropolitan and Industrial John Hackett said that a major factor in selling the sites to M/Group was the company’s proven track record and capacity to bring something a little different to the table.
“LandCorp has an aspirational vision for Shoreline, and the standard and style of development it incorporates is critical,” Mr Hackett said.
“M/Group is always consistent in providing innovative urban living designs that complement the surrounds. The company has a reputation for delivering highly successful projects in the Fremantle area and we’re thrilled that they have invested in the early stages of Shoreline.”
M/Group’s Shoreline site is scheduled for market release in early 2018.
M/Group to take land investors to new heights at BeeliarRead more
M/Group has announced plans to expand its land portfolio with the development of 148 premium residential lots on an 11.8ha site located in Beeliar within the growth corridor of Perth’s southern suburbs.
The release of the company’s Beeliar Development Trust seeks to raise $13.5 million to support the acquisition and development of the site. It follows a further $70 million raised in private equity for a range of investment products over the last 12 months, together with an unprecedented demonstration of success from its inaugural land development venture in Secret Harbour; achieving 85% in off-the-plan sales in just over seven months for Stage 1.
M/Group Managing Director, Mr Lloyd Clark, said the Project Land at Beeliar is located high on a ridge and is to be developed to existing topography with the retention of mature trees.
“There are not many property companies in the market that have successfully raised as much in private equity in the last 12 months as that of M/Group. We believe this is due to the considered approach we take to each investment that effectively delivers a competitive edge to our projects and drives higher returns for investors,” he said.
“In the case of Beeliar, much of the site’s appeal is in its elevated topography framed by beautiful Tuart Trees. Our development plans therefore work with these factors to provide the market with something unique.”
The anticipated price range of the residential lots for the Beeliar site is from $315,000 for 350m2 and up to $345,000 for 582m2. The projected financial return for private equity investors is 60% over a forecast 36-month investment period. It is forecasted that distributions will be paid on the basis of a 25% Internal Rate of Return.
M/Group is a diversified property company with a portfolio of property investments that today span across built form, land development and income generating property funds. Its approach to development, together with its success over its 16-year history, has attracted a strong investor following, with the last private equity fund attracting 90% return investors.
Director of M/Land, Mr John Wroth, says while the site is stunning and well located, the weight of the acquisition is underpinned by Western Australia’s continued and steady population growth as a result of improved resource prices, the low Australian dollar, continued oil and gas sector growth and, most significantly, the Government’s planned Cockburn Coast Redevelopment.
“Beeliar is strategically located along the Western Trade Coast, which will create over 11,000 jobs through a $2.3 billion Government injection into road and rail projects including Metronet,” he said.
“There is no question Beeliar’s location is highly desirable, close to beautiful beaches, Port Coogee Marina, schools, major shopping centres, hospitals and only 25 minutes from Perth CBD via freeway or train, but the Government’s commitment to develop some 3,900 hectares of land with industrial zones and an Australian Marine Complex, makes it a highly unique investment.”
M/Group is an approved Australian Financial Services Licensee (AFSL) working with both retail and wholesale investors.
For more information on the Beeliar Development Trust contact John Wroth on +618 9324 3855 visit www.mgroup.com.au.
Innovative Proposal Wins Over Curtin UniversityRead more
Curtin University has appointed M/Construction as its first single-source supplier for Minor Works Services, giving the company responsibility and sanction to deliver on immediate requirements and rapid-response requests.
M/Construction is part of the M/Group of companies, an organisation recognised for its attention-to-detail and progressive approach in boutique property development and construction.
The company’s appointment as Curtin University’s Preferred Contractor for the provision and delivery of Minor Work Services across metropolitan-based campuses, follows a long-term maintenance agreements with local government and agencies and a portfolio of private medium density residential and commercial buildings.
Director of M/Construction, Mr Michael Read, believes the appointment is a significant achievement for M/Construction’s maintenance division. He believes confident Curtin looked favourably on the company’s building registration and maintenance credentials, but is confident the appointment is a direct response to its innovation.
“M/Group has a culture of looking outside the square to improve outcomes and efficiencies. M/Construction took time to evaluate Curtin’s requirements and brought to the table a tender that would take its minor works services to the next level,” he said.
“Our proposition not only delivered a detailed service model and dedicated staff, but also demonstrated the company’s propensity towards the latest technologies and materials, supported by ongoing research and access to new initiatives. We believe this sat extremely well with the Curtin University philosophy.”
As a technically innovative maintenance and minor works service provider, M/Construction uses advanced detection equipment, including thermal imaging cameras, borescopes and drone cameras, which allows the company to conduct initial investigations of concealed maintenance issues (such as rising damp or leaking pipework) and complete maintenance inspections without the need to make penetrations, remove roof or wall sheeting and generally minimise disruption to operations.
Technology also enables detailed reporting on concealed maintenance issues in a matter of hours and the tender was backed by transparent processes and systems accessed by both parties.
The Curtin University contract was won over a number of construction, maintenance and facilities management companies, and will see M/Construction work closely with Curtin’s Properties Facilities and Development staff to estimate, consult, deliver and close out service requests.
M/Construction will be responsible for mostly single trade, single supplier requests with the ability to combine multiple suppliers and licensed trades
“The (Curtin) contract will further demonstrate the scope and flexibility of the company’s capability, which can be applied to a number of environments,” Mr Read said.
Eastern Deals Attract West Coast GroupsRead more
M/Group Takes Investor Network To The East CoastRead more
An over-subscribed property syndicate with more than 90% repeat investors has enabled Perth-based property company, M/Group, to secure the acquisition of Wodonga Plaza in regional Victoria. It represents the M/Group’s second regionally located shopping centre acquisition from Vicinity Centres, and its first step into growing an asset portfolio in the eastern states.
M/Group was established in Western Australia over 15 years ago and has evolved into a diversified property company that offers investment opportunities across land, residential, construction and income producing assets.
M/Group Managing Director, Mr Lloyd Clark, says the company’s targeted approach to identifying regionally located assets with good lease covenants and value-add potential has attracted significant investment interest from those looking for more than just a passive vanilla return.
“Every company aspires to having a network of investors that trust what they do and how they do it. We are really excited to be taking this group of loyal and new investors into the eastern states,” he said.
“Rather than target fully leased assets at capped rates of 5% – 7%, our interest is in securing properties that not only offer excellent income but also present development, refurbishment or lease re-positioning potential with the aim of achieving capital uplift as well as delivering excellent cash flow income. It is a similar strategic and considered approach we take across all our property activities and historically we have delivered quality investments and good returns.”
Wodonga Plaza attracted a sale price of $43.5 million, of which (circa) $26 million was raised through investment; M/Group’s largest capital raising to date.
The sale closely followed the company’s acquisition of the Albany Brooks Garden Shopping Centre in Western Australia earlier this year. In just over six months, M/Group has accumulated (circa) $70 million under management in income producing funds that yield an average return of 10% plus significant potential for capital upside.
“Wodonga Plaza is a great opportunity in a great regional city that is the gateway to Victoria from NSW. It is currently and will continue to be the largest centre in the region and we have already secured a new 10-year lease with Best and Less with multiple other tenant negotiations underway,” Mr Clark continued.
M/Group’s investment model utilises its Australian Financial Service License to make new opportunities available to a broader market that may not traditionally have access to this investment class.
Wodonga Plaza sits on approximately 4.4ha on island site with 4 Street Frontages and gross lettable area is some 17,200 sqm. Key anchor tenants include Target and Coles, with three current mini majors Amcal, Reject Shop and Best and Less, and around 55 specialties stores.
M/Group targets tenanted assets Australia-wide with a value proposition of around $10million to $50million. The success of this recent syndicate has fast tracked the release of its next syndicate where a similar response is expected.
For more information contact James Collis on 08 9324 3855 or visit www.mgroup.com.au/investments.
Form by Match – Construction Update – August 2017Read more
In our latest construction update on Form by Match we see the Level 4 suspended slab being poured, while the ground is being levelled ready for final concrete pour to complete the ramp and carpark to the ground level. Other external activity being undertaken includes the installation of the Atlantis cell stormwater pits, and the AFS and columns works completed to the final Ground Level slab section on the South East corner. Internally the wall framing has commenced on Level 2.
Construction completion has been achieved at M/24 by Match located in Leederville. The striking façade sits proudly on Carr Place giving this apartment development a presence like no other in the area.